Netflix chief executive officer Reed Hastings has led an $11 million investment round in DreamBox Learning. Hastings invested through the Charter School Growth Fund and was joined by a private investment by venture capitalist John Doerr, with GSV Capital Corp. and current investor Deborah Quazzo also participating.
DreamBox Learning will use the funds to expand its curriculum, fuel future product development, and expand distribution and adoption.
“DreamBox Learning’s highly seasoned executive management team has executed against an aggressive institutional market growth strategy, catapulting the company into the leadership position within the adaptive learning sector and they’ve only just begun,” Hastings said in a statement. “This additional investment underscores my commitment to bring the power of DreamBox Learning to every school, classroom and student across the U.S. to help motivate kids to become masters of mathematics.”
The company says its teaching is based on an intelligent adaptive engine that individualizes instruction in real time by determining the strategy each student is using to solve problems, rather than just track correct and incorrect answers.
DreamBox Learning was founded in 2006 in Bellevue, Washington and acquired in April 2010 by the Charter Fund in partnership with Reed Hastings. It has been used by more than 500,000 students and has won numerous awards for its innovation and efficacy.
Related links:mikecogh, used under Creative Commons license